Triple Top / Bottom
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TRIPLE TOP / BOTTOM INDICATOR FOR METATRADER

Spot key reversals with high-probability triple top and bottom signals

When price tests the same support or resistance level three times, it often hints at a weakening trend and an upcoming reversal. This indicator automatically detects and confirms these powerful triple top and bottom formations—filtering by retracement depth, pattern symmetry, and breakout timing—so you can anticipate market turning points with confidence. A built-in Donchian confirmation mechanism makes signals more robust and significantly reduces repainting, helping you time entries more reliably.

  • Detects triple top and bottom reversal and continuation patterns
  • Filters formations by retracement depth and symmetry
  • Displays clear breakout-based entry signals with minimal repainting
  • Includes stop-loss and take-profit levels for each setup
  • Offers real-time performance stats and success metrics
  • Fully customizable visuals: lines, labels, colors, and font sizes
  • Includes visual, push, email, and sound alerts for new signals
  • Load multiple instances to detect patterns of varying sizes
  • Non-backpainting and mostly non-repainting on breakouts
  FAQ

Screenshots

Description

The PZ Triple Top/Bottom Indicator is a reliable and easy-to-use technical tool for MetaTrader that identifies triple top and triple bottom chart formations in real time. These formations occur when the price of an asset tests a support or resistance level three times, failing to break through. They are often considered strong reversal patterns that can signal a major change in market direction.

This indicator helps traders detect such patterns early and confirms them with a Donchian breakout signal in the correct direction, significantly improving reliability and reducing false positives. The indicator also provides entry signals, stop-loss and take-profit levels, and performance statistics to support effective decision-making.

The PZ Triple Top/Bottom Indicator can detect both bullish and bearish versions of the pattern and is particularly helpful in spotting exhausted trends. Since triple top and bottom patterns may slightly expand over time, the indicator tracks the evolution of each pattern and dynamically updates it, without causing false signals.

Key Features

  • Detects both triple top and triple bottom reversal patterns
  • Confirms breakouts before signaling trades
  • Displays SL/TP levels based on the pattern size
  • Non-repainting breakout signals for reliable decision-making
  • Customizable colors, line sizes, and font options
  • Includes a performance dashboard to assess pattern reliability
  • Works on all timeframes and instruments
  • Alerts via screen, email, push notifications, and sound

Technical Notes

  • Indicator is evaluated once per bar (not tick-based)
  • Patterns may repaint during formation but are confirmed on breakout
  • Breakout signals are shown with arrows for clear trade direction
  • SL/TP levels are derived from the height of the formation
  • Use multiple instances with different amplitudes to scan for both small and large patterns

Input Parameters

  • Amplitude – The minimum number of bars between swing highs or lows. Larger amplitudes detect bigger patterns; smaller amplitudes detect more frequent but smaller ones.
  • Min. Retracement – The minimum Fibonacci retracement required for a valid pattern. Set to 0 to disable this filter.
  • Max. Retracement – The maximum Fibonacci retracement allowed for a valid pattern. Set to 0 to disable this filter.
  • Top/Bottom Retracement – Defines how flat the triple top or bottom should be. Higher values require tighter price symmetry across the three peaks or valleys.
  • Max History Bars – Number of historical bars to scan when the indicator loads. Reduce this to improve performance on slow terminals.
  • Display Stats – Show or hide the dashboard displaying pattern performance statistics (accuracy, count, etc).
  • Display SL/TP Levels – Toggle to show or hide suggested stop-loss and take-profit levels on each confirmed pattern.
  • Drawing Options – Customize the appearance of pattern lines, label colors, line thickness, and font sizes for easy readability.
  • Breakouts – Set the visual style of breakout confirmation arrows: color, size, and line width.
  • Alerts – Enable or disable alerts. Supports visual, push, email, and sound notifications.

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Frequently Asked Questions

Yes, the indicator may repaint while the pattern is still forming, especially if the price continues beyond expected retracement limits. However, once a Donchian breakout confirms the pattern and the signal arrow appears, the entry signal becomes mostly non-repainting. You can further reduce repainting by increasing the *breakout period*.

No. The indicator does not backpaint any signals or patterns. Once a confirmed breakout is plotted, the signal remains unless the chart is refreshed and the pattern becomes retrospectively invalid due to new data.

If the price moves beyond the allowed retracement or fails to confirm the breakout within defined limits, the pattern is invalidated and removed to avoid misleading entries. This is by design, to prevent trading against a failed setup.

Stop-loss and take-profit levels are calculated based on Fibonacci retracement projections from the completed pattern. They are intended as guidance and can be adjusted to fit your own risk/reward profile.

The indicator is timeframe-independent, but reversal patterns like these tend to be more reliable on higher timeframes, such as H1, H4, or D1, where noise is lower and trends are more defined.

Absolutely. You can load the indicator multiple times on the same chart with different amplitude settings to detect patterns of different sizes. This is especially helpful to catch both short-term and longer-term formations simultaneously.

To reduce false positives: (a) Increase the breakout period in the settings. (b) Filter by retracement depth to fine-tune pattern strictness. (c) Use in conjunction with other indicators or confirmation tools

No. The indicator works out of the box with sensible defaults. However, you can fine-tune it using parameters like amplitude, retracement depth, and breakout period to better suit your trading style or chosen instrument.